CEO Kelly Ortberg took over at Boeing knowing that the company was in trouble. Those troubles added up to an $11.8 billion loss last year, the company reported on Tuesday.

The loss demonstrates the challenges facing CEO Kelly Ortberg in turning around the planemaker as it cedes more ground to rival Airbus.

Elon Musk used his new government efficiency role to stop by the operations of his competitor Boeing to look into the long-delayed efforts to renovate two 747 jets into the next generation of Air Force One jets,

BA stock, with -32% returns since the beginning of 2024, has significantly underperformed the S&P 500 index, up 27%.

Boeing said on Tuesday it was making progress on increasing plane production, and its shares jumped nearly 8%, despite the company recording its biggest annual loss in four years.

Boeing has lost more than $2 billion producing the Next Air Force One after President Donald Trump renegotiated the deal in his first term.

Boeing posted a fourth-quarter loss of $3.8 billion on Tuesday as a machinists strike and other problems continued to plague the troubled aircraft manufacturer.

And now that the dust has settled at aerospace stock Boeing (BA), it is now time to look to the future, and see if Boeing can pull off anything

Boeing CEO and President Kelly Ortberg has completed a portfolio review of the embattled aerospace and defense giant’s businesses, and divestitures could begin in six to 12 months, although it will not entail a selloff of the defense and space division.

Boeing Co (NYSE:BA) reported a 31% year-over-year revenue decline to $15.242 billion in the fourth quarter of 2024, missing the consensus of $16.174 billion. Adjusted loss per share grew to $5.90 from $0.

L3Harris Technologies is the sixth-largest US defense contractor by sales. It formed in 2019 from the merger of L3 Technologies, a decentralized and acquisitive maker of sensors, and Harris, a sensor and radio manufacturer that ran a more unified business.